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We are pleased to share Ventus Energy Group's December monthly report, outlining our business development activities, operational updates, and key performance metrics.
In December, we took over the operations of the Riga Powerhouse in Jugla and launched two new projects, continuing advancement in our strategic initiatives. These efforts resulted in December achieving the highest funding amount raised in 2024.
INITIATIVES AND ACHIEVEMENTS
Riga Powerhouse
As of December 1, 2024, we assumed operational management of the Riga Powerhouse, the third-largest facility of its kind in Riga, the capital of Latvia. The following summarizes its operational and financial performance for December.
Operational Results
- Electricity Produced: 1,549.12 MWh
- Thermal Power Produced: 6,919.20 MWh
- Natural Gas Consumption: 38,075.05 MWh
- Wood Chips Consumption: 5,297.30 MWh
Revenue Overview
- Electricity Sales Revenue: €253,715.62
- Thermal Power Sales Revenue: €437,385.42
- Government Subsidy for Installed Capacity: €190,000.00
Expense Breakdown
- Natural Gas Expenses: €242,699.30
- Wood Chips Expenses: €147,504.00
- Salaries, Maintenance, Insurance, etc.: €75,000.00
EBITDA: 415,897.74 EUR
Daugavpils Powerhouse
Comprehensive preparations have been completed for the 72-hour testing of the Daugavpils Powerhouse. We are currently waiting for the seller to finalize the paperwork to restore the connection with the power distribution system operator “Sadales Tīkls” AS and provide the associated documentation.
Solar Park in Kuldiga
Thanks to you, a competitive price for solar panels for Solar Park Kuldiga has been secured, with the order placed and payment completed to the manufacturer before the year-end. Panel production is now underway to ensure readiness for the spring season.
BESS Parks near Jelgava
In December, the battery orders for the BESS PARK Jelgava project were settled with the manufacturer, while we expect other remaining technical components to be ordered in January.
NEW! Engycell BESS Pilot Project
A new energy project was launched - a custom-designed 3040 kWh Battery Energy Storage System (BESS). This system will utilize CATL 83 kWh batteries and be deployed at Riga Powerhouse. The BESS will be engineered by ENGYcell, a cutting-edge Latvian energy storage company.
NEW! Acquisition of Office Property
Another new lending opportunity was launched in the second half of December to finance the Ventus Energy office property purchase at Vilandes Street 6, Riga, Latvia. With a loan-to-value ratio of 75%, this strategic financial initiative aims to optimize the company’s costs, enhance asset value, and reduce dependency on rental expenses.
Xmas campaign results
In December we continued running the Ventus Energy Xmas campaign to fund existing and new projects. Total funding reached - €4,063,423. Bonus payments to clients - €233,500. Total number of participants - 627.
Read more about the campaign results HERE.
PERFORMANCE INDICATORS
As we wrap up 2024, we will soon share a summary of the year’s highlights. Looking ahead to 2025, we remain committed to keeping you informed about Ventus Energy Group through monthly reports, quarterly online meetings, and daily Telegram group communication.